Striking off a Limited Liability Partnership (LLP) is a legal procedure undertaken when an LLP ceases operations and wishes to officially close its existence. The process is governed by the Limited Liability Partnership Rules, 2009, particularly under Rule 37. An LLP can apply for strike-off if it has not carried out any business for at least one year or more. The application is made using Form 24 to the Registrar of Companies (ROC), along with necessary documents such as a statement of account, a declaration of no liabilities, a resolution from partners, and an affidavit from designated partners. The ROC, upon verification and satisfaction that the LLP is no longer functional and has no liabilities, proceeds to publish a notice and strike the name from the register. Once struck off, the LLP ceases to exist as a legal entity.
Conclusion: Strike off of an LLP offers a compliant and cost-effective way to legally shut down an inactive or non-operational LLP.